Assertion (A) : Degree of price elasticity is less than one in case of relatively inelastic demand. Reasoning (R) : Change in demand is less then the change in price.Options : (1) (A) is True, but (R) is False(2) (A) is False, but (R) is True(3) Both (A) and (R) are True and (R) is the correct explanation of (A)(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)

Assertion (A) : Degree of price elasticity is less than one in case of

1.	Assertion (A) : Degree of price elasticity is less than one in case of relatively inelastic demand. Reasoning (R) : Change in demand is less then the change in price.Options : (1) (A) is True, but (R) is False(2) (A) is False, but (R) is True(3) Both (A) and (R) are True and (R) is the correct explanation of (A)(4) Both (A) and (R) are True and (R) is not the correct explanation of (A)
Answer» Option : (3) Both (A) and (R) are True and (R) is the correct explanation of (A)